Royal Bank of Canada Lowers Kayne Anderson BDC (NYSE:KBDC) Price Target to $17.00

Kayne Anderson BDC (NYSE:KBDC - Free Report) had its target price trimmed by Royal Bank of Canada from $18.00 to $17.00 in a research report released on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on KBDC. UBS Group dropped their price objective on shares of Kayne Anderson BDC from $16.50 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price objective on shares of Kayne Anderson BDC from $17.00 to $16.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price target on Kayne Anderson BDC from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.60.

Kayne Anderson BDC Price Performance

NYSE:KBDC traded up $0.15 during midday trading on Monday, reaching $15.80. 23,885 shares of the stock traded hands, compared to its average volume of 92,406. The business has a 50-day moving average of $16.03 and a two-hundred day moving average of $16.53. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. Kayne Anderson BDC has a 12-month low of $13.93 and a 12-month high of $17.99.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). The business had revenue of $56.34 million during the quarter, compared to analyst estimates of $53.01 million. Kayne Anderson BDC had a return on equity of 12.65% and a net margin of 59.80%. Equities research analysts forecast that Kayne Anderson BDC will post 2.06 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.13%. The ex-dividend date of this dividend was Monday, March 31st.

Institutional Investors Weigh In On Kayne Anderson BDC

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in Kayne Anderson BDC by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 64,680 shares of the company's stock valued at $1,033,000 after buying an additional 11,289 shares in the last quarter. HB Wealth Management LLC acquired a new position in Kayne Anderson BDC in the 4th quarter valued at about $1,591,000. Magnus Financial Group LLC purchased a new position in Kayne Anderson BDC in the 4th quarter valued at about $489,000. Requisite Capital Management LLC acquired a new stake in shares of Kayne Anderson BDC during the 4th quarter worth about $5,589,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Kayne Anderson BDC during the fourth quarter worth about $169,000.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.